We have been representing for effecting improvements in the pension scheme on lines of benefits granted to the Central Government pensioners. The Central Government had, by way of acceptance and implementation of the recommendations of the IV Central Pay Commission, reduced the qualifying service for full pension to 20 years, had increased the minimum pension to Rs.35000/- and had abolished the slab system for grant of family pension and made it uniform 30% for all family pensioners and last drawn basic salary for calculation of pension.
When we met the LIC officials on 19-10-2012, we had while raising the issue told them that these improvements have been granted in RBI and had requested for follow up by the LIC with the Government. Now, we learn that the Reserve Bank of India, after its Board's approval (except the last drawn salary for calculation of pension), has written to the Government of India on December 12, 2012 for appropriate notification in the Gazette.
In the circumstances, we request the LIC management to take immediate steps for grant of the benefit to LIC pensioners too so that employees with 20 years service or more become entitled to full pension on superannuation, last drawn salary is treated as salary for pension, eligible pensioners get increased minimum pension and all family pensioners now drawing lower rates of pension are granted increased pension at 30% of pay uniformly.